Introduction: There have been many amendments regarding the companies act of 2013. The latest being the addition of the financial statement in schedule III with new clauses, as of 24 March 2021.[1] My focus and highlight for this particular article Read more
Introduction: The company is a legal entity that requires a natural person to manage, control, direct, and monitor its operations. The board of directors of a Private Limited company can appoint or elect one or more directors to carry out Read more
Introduction: Preference shares, also known as preferred stock, are shares of a company’s stock that pay dividends to stockholders before common stock payments are paid out. Preferential share capital is the company’s share capital that carries or would carry a Read more
Introduction: The “Articles of Association” of a company are the bylaws, rules, and regulations that aid to control the management of the company’s internal affairs as well as conducting the company’s business.[1]. They refer to a company’s articles of organisation, Read more
Introduction: Misrepresentation can be understood as an untrue statement made by one party during the course of entering into a contract. The false statement made will have an influence on the decision made by the other party and may also Read more
Introduction: Section 2(h) of the Indian Contract Act, 1872, defines a contract as “an agreement that is legally enforceable.” A contract is made up of reciprocal promises made by the two parties. The promises made by each side bind them Read more
Introduction: ‘Consideration’ is ‘anything in return,’ i.e. quid pro quo, which is a key factor in determining the parties’ true willingness to form a legal relationship. Something in exchange for a promise is known as consideration. It may be either Read more
Introduction: ‘Consideration’ means ‘ something in return ‘, i.e.quid pro quo the essential mainstays of a legitimate agreement. In like manner speech, consideration alludes to something paid to somebody as a trade-off for something different which, in lawful phrasing can Read more
Introduction: An Agreement is a promise between two entities creating mutual obligations by law. Section 2(e) of the Indian Contract Act, 1872 defines an agreement as ‘Every promise and every set of promises, forming the consideration for each other, is Read more
Introduction: A prospectus is defined under Section 2(70) of the Companies Act, 2013 as a document that includes a red-herring prospectus or shelf-prospectus, supplied to invite offers for purchase or subscription of shares or debentures or other instruments of a Read more
Introduction: Bought and Sold Agreement is a contract that is legally binding and specifies how the shares of the partner in a business may be redistributed in case of demise or otherwise leaves the business. It is more commonly known Read more
Introduction: In accordance with the 1872 Indian Contract Act the definition of acceptance is given in Section 2(b)[1] as, “when the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. As Read more